J.P. Morgan replaces prime brokerage chief: report

Sat May 26, 2012 2:35pm EDT
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CHICAGO (Reuters) - JPMorgan Chase & Co is replacing Lou Lebedin after keeping him for just two months as the New York bank's sole global prime brokerage chief, Bloomberg News reported, citing unnamed people familiar with the change.

Lebedian, a 54-year old former Bear Stearns executive, had been co-head of JPMorgan's global prime brokerage since 2008, and had run the business solo since March when his London-based co-head was moved to a different role.

Lebedin is being replaced by Teresa Heitsenrether, the co-head of JPMorgan's fixed income brokerage since 2008. Heitsenrether, 47, is based in London.

JPMorgan is the biggest U.S. bank by assets.

(Reporting by Ann Saphir)